Long
PLTR - Patience for a Long Entry
Updated
PLTR showing an Inverse Head & Shoulders on the chart. I'm expecting a breakout to above the $32 level (to fill a minor gap), but want to stay patient for the right setup. It's rallied all the way up to that neckline on high volume, before cooling off the last two days (and again so far today 7/1). I won't chase this stock unless we see a high volume sustained breakout above that neckline. For now, I'm looking for a re-entry around the $25 level, with a second entry if it falls to as low as the 22.50s range.
Selling Credit Put Spreads for my Long exposure, but would also buy shares outright.
*Position
Selling Credit Put Spreads for my Long exposure, but would also buy shares outright.
*Position
Note
Still staying patient here. Most Technicals pointing down, and they'll be some pivot points of note if we keep going lower. Point of Control for PLTR's entirety sitting at 24.69 for the Vol Profile traders. 50 Day EMA 24.16. Fibonacci level at 23.66. 23.06 Breakout Candle. There's not much preventing this from having a repeat of today, on light holiday volume, to test these various pivot points. Will look to size into my Long trade if we get strength after weakness.
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